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the road bill, that creates another fiscal cliff to deal with this fiscal cliff. how irresponsible is that? >> reporter: and does washington still, the stock market burns. dropping for a sixth-straight day under this uncertainty. americans are burning up, too. >> this is america. they should be working for the american people. >> can't believe we got this close. >> get in a room and don't come out of the room until you've got this thing taken care of. >> reporter: what the senate leaders hope to do is put together this deal, bring it to the senate tomorrow. then, the house comes back in session tomorrow night. they can vote on any deal passed by the senate. but bianna, no one is holding their breath here in washington. >> no one is, indeed. >>> for more on the big white house meeting, we want to bring in john avlon, political columnist at "the daily beast." a busy man covering all of this. how do you see this playing out? >> we're three days out. nothing focuses than the prospect of being hanged. today, bianna, is the key day. saturday, today, the senators are mee
the road bill, that creates another fiscal cliff to deal with this fiscal cliff. how irresponsible is that? >> reporter: and does washington still, the stock market burns. dropping for a sixth-straight day under this uncertainty. americans are burning up, too. >> this is america. they should be working for the american people. >> can't believe we got this close. >> get in a room and don't come out of the room until you've got this thing taken care of. >> reporter:...
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Dec 30, 2012
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the fiscal cliff. on saturday the president was at work here at the white house, but all eyes were up on the senate where negotiators were trading deal points and revenue figures, to try to reach an agreement all sides can stomach. the base line for the president - any bipartisan bill would have to extend unemployment insurance benefits that would affect some two million americans. and it would have to increase taxes on the highest income earners. but negotiators could still work out exactly where those tax increases would hit and whether they would halt an increase in the estate tax. now in case that deal breaks down, the president has asked democratic leader harry reid to prepare a separate bill to put on the senate floor. that bill would increase taxes for households that earn 250- thousand dollars or more. now that's a democratic proposal, and you can expect republicans would block it. so rather than thinking of that as a stop-gap measure, think of it as a political move to try to shift the respons
the fiscal cliff. on saturday the president was at work here at the white house, but all eyes were up on the senate where negotiators were trading deal points and revenue figures, to try to reach an agreement all sides can stomach. the base line for the president - any bipartisan bill would have to extend unemployment insurance benefits that would affect some two million americans. and it would have to increase taxes on the highest income earners. but negotiators could still work out exactly...
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Dec 30, 2012
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to avert the fiscal cliff. on saturday the president was at work here at the white house, but all eyes were up on the senate where negotiators were trading deal points and revenue figures, to try to reach an agreement all sides can stomach. the base line for the president - any bipartisan bill would have to extend unemployment insurance benefits that would affect some two million americans. and it would have to increase taxes on the highest income earners. but negotiators could still work out exactly where those tax increases would hit and whether they would halt an increase in the estate tax. now in case that deal breaks down, the president has asked democratic leader harry reid to prepare a separate bill to put on the senate floor. that bill would increase taxes for households that earn 250- thousand dollars or more. now that's a democratic proposal, and you can expect republicans would block it. so rather than thinking of that as a stop-gap measure, think of it as a political move to try to shift the respons
to avert the fiscal cliff. on saturday the president was at work here at the white house, but all eyes were up on the senate where negotiators were trading deal points and revenue figures, to try to reach an agreement all sides can stomach. the base line for the president - any bipartisan bill would have to extend unemployment insurance benefits that would affect some two million americans. and it would have to increase taxes on the highest income earners. but negotiators could still work out...
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Dec 27, 2012
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cliff. the president is cutting his vacation short to return to the white house and try to hammer out a deal. but what will actually happen if we do go over the cliff? doug luzader is live for us with the details. >> it is not going to be pretty. on board air force one heading back to washington from a hawaii after cutting christmas short. can a cup of coffee help as far as christmas is concerned. starbucks is hoping. if you go into a starbucks you will get a message written on your coffee that says come together. this is a company trying to tell the president and lawmakers here they need to come up with some kind of agreement before they go over the fiscal cliff at the end of the year. the senate will be meeting today. this is the first time we have seen legislative business conducted in the weeks between christmas and new years since 1970. the house come back as well but nothing yet. the other thing to consider here the two key players in all of this president obama and republican house sp
cliff. the president is cutting his vacation short to return to the white house and try to hammer out a deal. but what will actually happen if we do go over the cliff? doug luzader is live for us with the details. >> it is not going to be pretty. on board air force one heading back to washington from a hawaii after cutting christmas short. can a cup of coffee help as far as christmas is concerned. starbucks is hoping. if you go into a starbucks you will get a message written on your...
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Dec 28, 2012
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that's just one day before the fiscal cliff deadline when income tax cuts and payroll tax cuts are set to expire, $110 billion worth of spending cuts kick in, and two million jobless americans lose their unemployment benefits. for the first time, leader reid said today that it looks like the nation is going to go over the fiscal cliff, but that may just have been bluster, jeff, to try to put more pressure on republicans. >> glor: so, nancy, the house coming back on sunday. is that a good sign? >> reporter: well, it is in the sense that if the senate does manage to pass something, the house would be here to vote on it, as well. originally, speaker boehner had told his members that he would give them 48 hours' notice if they were needed back here at the capitol, but there was a recognition, i think, that it just looked bad for the house to be gone when we were so close to the fiscal cliff deadline. >> glor: nancy cordes, thank you. major garrett has been following developments at the white house. major, what is the president's next move? >> reporter: it is not a breakthrough but it is a
that's just one day before the fiscal cliff deadline when income tax cuts and payroll tax cuts are set to expire, $110 billion worth of spending cuts kick in, and two million jobless americans lose their unemployment benefits. for the first time, leader reid said today that it looks like the nation is going to go over the fiscal cliff, but that may just have been bluster, jeff, to try to put more pressure on republicans. >> glor: so, nancy, the house coming back on sunday. is that a good...
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and they can try once again to negotiate a deal to avoid the fiscal cliff by the end of the year. just about every american family will see their taxes increase on january 1 unless a deal is reached. but lawmakers are expressing very little optimism so far. meantime, the president spent christmas in hawaii, visiting a local marine base, thanking more than 100 troops and their families for their service. >>> and this morning, the taliban is claiming responsibility for a suicide bombing at a major u.s. base in eastern afghanistan. three afghans, including a guard at camp chatman were killed in today's explosion. >>> and back here at home, former major league baseball player andruw jones is free on bond this morning. he was arrested near atlanta early christmas morning on a battery charge, after police responded to a call about a domestic dispute with his wife. >>> and netflix, they are apologizing for a christmas outage in its video streaming service. yes, it happened on christmas, a little untimely. it took ten hours to resolve the problem, which affected subscribers across the cou
and they can try once again to negotiate a deal to avoid the fiscal cliff by the end of the year. just about every american family will see their taxes increase on january 1 unless a deal is reached. but lawmakers are expressing very little optimism so far. meantime, the president spent christmas in hawaii, visiting a local marine base, thanking more than 100 troops and their families for their service. >>> and this morning, the taliban is claiming responsibility for a suicide bombing...
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Dec 27, 2012
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hammer out a deal with republicans to avoid sending the economy over the fiscal cliff. charlie's at the live desk right now this morning with more on the battle ahead for both sides of the debate. charlie the 11th hour. >> the future, the immediate future of our taxes hang in the balance. the president and house republicans are now set to square off once more to cut a deal. with just five days remaining before the tax hikes and departmental cuts take effect. before christmas house republicans failed to pass the alternate plan instead placing the responsibility on president obama and senate democrats' shoulder. according to the "washington post" gop leaders vowed to go into session to vote on anything the democratic controlled senate approved. however speaker john boehner demanded the senate first take a look at the bill the house moved through a month ago that preserved the expiring tax cuts for the wealthy as well as the middle class. that's not likely given the president's position on raising taxes for those making more than $250,000 a year. >> i want us to not go ove
hammer out a deal with republicans to avoid sending the economy over the fiscal cliff. charlie's at the live desk right now this morning with more on the battle ahead for both sides of the debate. charlie the 11th hour. >> the future, the immediate future of our taxes hang in the balance. the president and house republicans are now set to square off once more to cut a deal. with just five days remaining before the tax hikes and departmental cuts take effect. before christmas house...
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. >>> this morning, both sides, now, looming, four days from the fiscal cliff. everybody's taxes will be going up if we go over it. drastic budget cuts will be going into effect. and leaders in washington have finally agreed to talk. a meeting scheduled this afternoon at the white house. abc's chief white house correspondent, jonathan karl, telling us what we can expect. we want to take a listen to sound from both sides. the looks of things, no one may be getting too far down the road. first, let's listen to what senate minority leader mitch mcconnell said on the senate floor. >> i told the president we'd be happy to look at what he proposes. but the truth is, we're coming up against a hard deadline here. and republicans aren't going to write a blank check for anything senate democrats put forward just because we find ourselves at the edge of the cliff. >> meanwhile, the senate majority leader, now, had even harshe harsher words for gop leadership. >> the house of representatives is operating out the house of representatives. it's being operated with a dictators
. >>> this morning, both sides, now, looming, four days from the fiscal cliff. everybody's taxes will be going up if we go over it. drastic budget cuts will be going into effect. and leaders in washington have finally agreed to talk. a meeting scheduled this afternoon at the white house. abc's chief white house correspondent, jonathan karl, telling us what we can expect. we want to take a listen to sound from both sides. the looks of things, no one may be getting too far down the road....
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to avoid the looming fiscal cliff. with five days until major spending cuts kick in and taxes go up on everybody, the white house says president obama made separate phone calls to the senate leaders, harry reid, and john boehner. that was last night before the president took air force one from hawaii to washington. molly is live for us at the white house. update us on the next move from the obama administration. >> despite the phone calls that the president made before he left hawaii, he spoke to top democrats and republicans and no negotiation meetings have been set. at least not formally or public limit there's nothing set yet between all the sides to discuss this. the president's back in washington after he cut short vacation to get back to the white house for possible last minute fiscal cliff talks leaving his wife and daughters in hawaii. the vice president is scheduled to be here today for meetings. don't forget the obama administration and congress have the debt ceiling hanging over them. the u.s. set to hit the
to avoid the looming fiscal cliff. with five days until major spending cuts kick in and taxes go up on everybody, the white house says president obama made separate phone calls to the senate leaders, harry reid, and john boehner. that was last night before the president took air force one from hawaii to washington. molly is live for us at the white house. update us on the next move from the obama administration. >> despite the phone calls that the president made before he left hawaii, he...
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Dec 24, 2012
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cliff we ring in the new year with big tax increases and spending cuts. here to talk about what is going to happen are two leading senators. john barasso, chairman of the republican policy committee and from new york democrat kent conrad, chairman of the senate budget committee. senators welcome back to "fox news sunday." >> thanks for having me. >> good to be with you. >> chris: before heading to hawaii for christmas the president laid out a new stripped down plan to avert the fiscal cliff. here is what it is. extend the bush tax cuts for people making less than $250,000. extend unemployment benefits for the 2 million people who will run out next month and delay the sequester of $110 billion in spending cuts next year. for all of the talk of $4 trillion in debt reduction this plan would only save $800 billion over ten years. senator conrad is that the best that washington can do over the next nine days and can you pass even that? >> look, chris, it may come to that but we can do better. and we should do better. this is an opportunity to do something that
cliff we ring in the new year with big tax increases and spending cuts. here to talk about what is going to happen are two leading senators. john barasso, chairman of the republican policy committee and from new york democrat kent conrad, chairman of the senate budget committee. senators welcome back to "fox news sunday." >> thanks for having me. >> good to be with you. >> chris: before heading to hawaii for christmas the president laid out a new stripped down plan...
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. >> we could tax all the rich people and cut their heads off and it would not help the fiscal cliff. >> reporter: talk now of a smaller deal that extends bush tax rates for the middle class and extends unemployment benefits. but puts off major spending cuts and reform to entitlements like medicare. >> we're going to end up with a small, kick the can down the road bill that creates another fiscal cliff to deal with with fiscal cliff. >> reporter: lawmakers are talking about how to retroactively avoid going off the fiscal cliff on a new congress. >>> the fiscal cliff debate is impacting people here in the bay area who's lives could dramatically change as soon as tomorrow. tom vacar is live at a highway work site in oakland and has the story of one woman and her looming fear. tom-- >> reporter: the people who work here are well paid and they're onvacaon. but for other people, the fiscal cliff might as well be a financial guillotine. though ilea thomas searches, she's been out of work for two years picking up any odd jobs as much as she can. >> it's been discouraging. i come in here thre
. >> we could tax all the rich people and cut their heads off and it would not help the fiscal cliff. >> reporter: talk now of a smaller deal that extends bush tax rates for the middle class and extends unemployment benefits. but puts off major spending cuts and reform to entitlements like medicare. >> we're going to end up with a small, kick the can down the road bill that creates another fiscal cliff to deal with with fiscal cliff. >> reporter: lawmakers are talking...
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or whether sequestration and the fiscal cliff occurs. >> ifill: the across-the-board cuts. why does it work that way? >> in the event no deal is made and we do have the automatic cuts known as sequestration starting in january, federal employees face job loss and in some situations-- certainly in the department of defense-- but throughout the federal government people will be furloughed, forced to take unpaid days off, anywhere from 20 to 50 days. we really don't know. it depends in part on the agency and it depends in part on how much of the remainder of the fiscal year these cuts are squished into. so it's -- that's one bad situation. and then the so-called grand bargains and deals, many of those include provisions that would cut federal retirement benefits and extend the current pay freeze for an additional three years so that federal employees would go five full years without any paid a justments. >> ifill: hugh johnson, if you were an investor or a business owner and you're watching wall street watch the fiscal cliff debate what are you telling them? are people nervous
or whether sequestration and the fiscal cliff occurs. >> ifill: the across-the-board cuts. why does it work that way? >> in the event no deal is made and we do have the automatic cuts known as sequestration starting in january, federal employees face job loss and in some situations-- certainly in the department of defense-- but throughout the federal government people will be furloughed, forced to take unpaid days off, anywhere from 20 to 50 days. we really don't know. it depends in...
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Dec 29, 2012
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the fiscal cliff, still looming. spending cuts and tax hikes that could shove our economy into recession. and a deadline lawmakers ignored until the very last possible minute. live pictures now of the capitol. looks beautiful. man, but there's a lot of wrangling going on there. lawmakers are back up -- had their backs up against the wall right now. and as they try to find a plan that can pass congress. let's hope they do. cnn's chief white house correspondent is jessica yellin. she is following the negotiations, working very hard on this saturday. so jess, democrats and republicans are supposedly working on a plan, even as we speak. what do we know about it? >> reporter: well, we know, don, that it's the senate leaders that are hashing this out. and what they're looking to negotiate is a deal that would extend current low tax rates for middle income americans. we don't know the exact threshold levels. so would it be people who make $400,000 and less, would it be $250,000 and less. but something that would extend low
the fiscal cliff, still looming. spending cuts and tax hikes that could shove our economy into recession. and a deadline lawmakers ignored until the very last possible minute. live pictures now of the capitol. looks beautiful. man, but there's a lot of wrangling going on there. lawmakers are back up -- had their backs up against the wall right now. and as they try to find a plan that can pass congress. let's hope they do. cnn's chief white house correspondent is jessica yellin. she is following...
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we're talking about the tack increases, the spending cuts that make up the fiscal cliff. president obama, he cut his christmas vacation short to deal with this crisis. he arrived back from hawaii just a short time ago, and the senate also returning to work today hoping to come up with some kind of agreement. but time is running out. jessica yellin, she has the latest from the white house. we've got dana bash following the developments on capitol hill. i want to start off with you, dana. what do we know about a possible compromise on the senate siepd what they might be proposed in fairly short order? >> compromise, i'm not so sure we'll see that. but i was told by a republican senator and democratic senator that the pr indicated before he left for hawaii that he, the president, is expected to send a piece of legislation up today with his scaled back tax plan. that's something that the president outlined in general terms on the friday before he left for hawaii and since then what we've been hearing from republicans, particularly mitch mcconnell's office is we can't talk abo
we're talking about the tack increases, the spending cuts that make up the fiscal cliff. president obama, he cut his christmas vacation short to deal with this crisis. he arrived back from hawaii just a short time ago, and the senate also returning to work today hoping to come up with some kind of agreement. but time is running out. jessica yellin, she has the latest from the white house. we've got dana bash following the developments on capitol hill. i want to start off with you, dana. what do...
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Dec 30, 2012
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. >>> don, in washington, there's hope a deal can be cut in time to avert the fiscal cliff. on saturday, the president was at work here in the white house, but all eyes were on the senate where negotiators were trading deal points in trying to reach an agreement. any bipartisan bill has to include a extension of unemployment benefits that would effect 2 million americans and an increase for taxes for the highest income workers. >>> now, while that. negotiation is continuing, the president has asked senate majority leader, harry reed to prepare an alternative bill to have ready to put on the senate floor as early as sunday. that bill would raise taxes on households that earn $250,000 or more. that is a democratic proposal and you can expect that republicans would block it, so think of that less as a stop gap measure and more as a political move to sthift the failure of responsibility to the republicans just as the nation approaches the hour of republic -- the hour of reckoning. >> the nation's capitol could see snow of 3-5 inches tonight. washington not alone, these pictures
. >>> don, in washington, there's hope a deal can be cut in time to avert the fiscal cliff. on saturday, the president was at work here in the white house, but all eyes were on the senate where negotiators were trading deal points in trying to reach an agreement. any bipartisan bill has to include a extension of unemployment benefits that would effect 2 million americans and an increase for taxes for the highest income workers. >>> now, while that. negotiation is continuing,...
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Dec 26, 2012
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but six days before the fiscal cliff, president obama cutting short his christmas vacation on the off chance he and congress might be able to cut some kind of deal. he left. but brianna keilar is still there in honolulu. when's the president leaving and why does he really expect to avoid the cliff? >> reporter: i will be leaving as well when the president leaves, don. he is expected. he will be leaving tonight. that's local time. so he'll be traveling overnight and arriving back in the d.c. area late thursday morning. as you know, the senate reconvenes tomorrow. so he'll be going back as that is happening. we heard from him last week as he was heading out to hawaii. he said, see you next week. we had a thought that this was probably going to happen. he is officially now going back. he said last week, don, that he is still optimistic that something can get done. the other issue here, though, is you can imagine, how bad it would look if he go over the cliff and there's a lot of work to make sure that doesn't happen. he's here in hawaii on vacation. that would look terrible for him. so o
but six days before the fiscal cliff, president obama cutting short his christmas vacation on the off chance he and congress might be able to cut some kind of deal. he left. but brianna keilar is still there in honolulu. when's the president leaving and why does he really expect to avoid the cliff? >> reporter: i will be leaving as well when the president leaves, don. he is expected. he will be leaving tonight. that's local time. so he'll be traveling overnight and arriving back in the...
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Dec 27, 2012
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lawmakers gear up to tackle the fiscal cliff on capitol hill. >> the fiscal cliff deadline is inching closer. the aviation industry is not worried. they say they will not face immediate destruction. the defense industry urging congress to shift its attention from the cuts than to fighting over taxes. if the cuts take effect, many jobs would be lost. starbucks taking a stand on the cliff. asking customers to write "come together" on cups. toyota will take a $1.1 billion charge to settle a lawsuit that has to do with more than 10 million vehicles because of unintended acceleration. good news for the housing market. homes i use will rise as much as 2.5% nationwide. they expect 2013 to be a seller's market. the best places to buy include cleveland and philadelphia. i'm ellen braitman with the bloomberg business report. >> 5:22. support pours into newtown, connecticut. a memorial that includes every gift and a letter. don't forget to e-mail us your response to our water cooler question of the day. will you be more likely to visit a maryland casino now that some are open 24/7? you can share
lawmakers gear up to tackle the fiscal cliff on capitol hill. >> the fiscal cliff deadline is inching closer. the aviation industry is not worried. they say they will not face immediate destruction. the defense industry urging congress to shift its attention from the cuts than to fighting over taxes. if the cuts take effect, many jobs would be lost. starbucks taking a stand on the cliff. asking customers to write "come together" on cups. toyota will take a $1.1 billion charge to...
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Dec 31, 2012
12/12
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the fiscal cliff deadline is looming. congress house and have a few hours left to reach a to stop potentially devastating tax hikes and spending cuts from taking effect. we will have an in-depth report few moments.just a and now a check on traffic. 118 in germantown, it looks like this all morning. no delays southbound. l head onto a map. we had an ongoing cleanup near the air force base. the lanes have been reopened. everything is looking pretty good. we will head to springfield. traffic moving smoothly north. here is a look at the weather. >> a little bit on the cool side. need playersy today. cold is here. the 21 in manassas, 29 degrees in washington d.c.. if the clouds are filtering in. they will thicken up throughout the day. average between 42 and 46. >> thank you. l have another local news coming up at 8:56 on this new year's eve morning. [ cheers and applause ] >>> all right. we have great crowd outside counting down to the new year. the party is already starting in here. >> a little bit. >> ron claiborne, dan abr
the fiscal cliff deadline is looming. congress house and have a few hours left to reach a to stop potentially devastating tax hikes and spending cuts from taking effect. we will have an in-depth report few moments.just a and now a check on traffic. 118 in germantown, it looks like this all morning. no delays southbound. l head onto a map. we had an ongoing cleanup near the air force base. the lanes have been reopened. everything is looking pretty good. we will head to springfield. traffic...
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Dec 27, 2012
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cutting his vacation in hawaii sure to tackle the fiscal cliff. reports calling the possibility of a deal before the new year "virtually impossible." let's bring in former press secretary to al gore and we also have brad blakeman. they are both joining us from washington, d.c. "the house has already passed legislation to avoid the fiscal cliff, but senate democrats have not." what do you make of that feedback they are having what amounts to a staring contest right now. it is legislation that would keep tax cuts for those making under $250,000 a year. the house does not have any plans to come back before january 1. liz: the house does have a bill that would not hurt small businesses and the job creators in this country. for some reason they seem to be avoiding that very important issue for the u.s. economy. >> what i make of it is, it all goes back to the leadership of the president. the president created this crisis. remember, he was the one who had a bipartisan commission on the debt. they came back with their proposals. two years ago, the presid
cutting his vacation in hawaii sure to tackle the fiscal cliff. reports calling the possibility of a deal before the new year "virtually impossible." let's bring in former press secretary to al gore and we also have brad blakeman. they are both joining us from washington, d.c. "the house has already passed legislation to avoid the fiscal cliff, but senate democrats have not." what do you make of that feedback they are having what amounts to a staring contest right now. it is...
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Dec 28, 2012
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economy will grow over the " fiscal cliff. " >> what is happening right now high pressure is staying in place and it is falling down and stall in the system. it is currently 34 degrees in santa rosa. it is not a bad start for san francisco they're waking up to 43 degrees. as we take a look at the visibility map there is a dense fog forming. it is not too bad for napa and out in concord. reports of visibility down to this 3 tens of a mile. this is only the dangerous spot here. you may want to allow yourself a little bit of extra time. >> we are tracking the storm for you. we will not see too much moisture associated with this. we will see cloud cover that will start to run but. all the white on the screeby 3:00 p.m. most of the moisture will be sitting off shore. the shower chances will increase later on tonight into the morning. by 9:00 p.m. we may have some light rain for the shoreline. as we continue to advance the clock showers will pass through for overnight hours. >> as we take a look at the afternoon highs it will be a another cold one. it will be 49 degrees for fairfield and 5
economy will grow over the " fiscal cliff. " >> what is happening right now high pressure is staying in place and it is falling down and stall in the system. it is currently 34 degrees in santa rosa. it is not a bad start for san francisco they're waking up to 43 degrees. as we take a look at the visibility map there is a dense fog forming. it is not too bad for napa and out in concord. reports of visibility down to this 3 tens of a mile. this is only the dangerous spot here....
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Dec 25, 2012
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do we know if the president sen gauged in talks or negotiations regarding the fiscal cliff? >> reporter: we know the white house is at this point, suzanne. it's really the white house and senate democrats who are talking at this point. congressional democrats and republicans are not talking, and this is important to note as the senate is set to reconvene on thursday. at some point take up some sort of measure that harry reid will have cobbled together hoping to get some republican support. but right now it is possible, of course, to resolve this. it's also possible according to a lot of sources that we're talking to that we do go over the cliff, but at this point the white house talking to senate democrats about what their proposal is that they'll be putting out here in the nex week. >> if there was some break through i'm assuming the president would cut his vacation short and go back to washington? is that what you understand? >> reporter: they haven't made it official, suzanne, but i think that is the expectation. talking with sources. it's not really a matter of if the pr
do we know if the president sen gauged in talks or negotiations regarding the fiscal cliff? >> reporter: we know the white house is at this point, suzanne. it's really the white house and senate democrats who are talking at this point. congressional democrats and republicans are not talking, and this is important to note as the senate is set to reconvene on thursday. at some point take up some sort of measure that harry reid will have cobbled together hoping to get some republican...
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downgrade in the consumer confidence numbers but you have to admit, it's the fiscal cliff, the debt clock stuff. i don't blame them. >> reporter: yeah. people think the general public is oblivious and not paying attention. they want to blow off the fact people are bored about hearing about the fiscal cliff but the reality is that 98% of americans will be affected and will see taxes go up if we go over the cliff at the end of the year. this consumer confidence number is an indication of what economist have been warning if we go over the cliff and enter into a new recession in 2013. that consumer confidence number down 6 points to just over 65. you know as well as i do this is a big change in the overall trend we had been seeing of improving consumer confidence. so as we near the fiscal cliff and near the end of the year, folks are buckling up, didn't spend as much as christmastime and we depend on the spending for economic growth. it's the engine of economic growth and all fingers point to another recession. >> eric: yesterday we got indication the retail sales for christmas were bad. toda
downgrade in the consumer confidence numbers but you have to admit, it's the fiscal cliff, the debt clock stuff. i don't blame them. >> reporter: yeah. people think the general public is oblivious and not paying attention. they want to blow off the fact people are bored about hearing about the fiscal cliff but the reality is that 98% of americans will be affected and will see taxes go up if we go over the cliff at the end of the year. this consumer confidence number is an indication of...
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Dec 28, 2012
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obama's tax cuts that he passed after we went over the fiscal cliff, it then loses whatever upside there was for republicans, except, and we have to mention this, for republicans vulnerable to primary challenges, there's obviously a lot of anxiety about being, you know, the first republican in 20 years to vote for a tax increase. i think that's the big fear, that it's been so long. republicans haven't cast this kind of vote. you don't want to be the first one to do it. >> yeah, and charles, we're told the democrats may be waiting until the very last minute. maybe they're banking on pressure and the gop caving. what should americans make of that? with so much at stake here? >> i don't think it is. i think there's gamesmanship on both sides, that's obviously true, but i think democrats understand they get a better deal out of this if they actually go over the cliff. what the president was offering, his last round of offers, was in fact something that a lot of democrats and liberals did not take kindly to. in fact, when boehner was not able to pass plan b, he threw the president a lifeline
obama's tax cuts that he passed after we went over the fiscal cliff, it then loses whatever upside there was for republicans, except, and we have to mention this, for republicans vulnerable to primary challenges, there's obviously a lot of anxiety about being, you know, the first republican in 20 years to vote for a tax increase. i think that's the big fear, that it's been so long. republicans haven't cast this kind of vote. you don't want to be the first one to do it. >> yeah, and...
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but that's cutting pretty close, as you can imagine, because we go over the fiscal cliff as of monday night without a deal. so pretty tight timeline there. >> what is the thinking at this point, dana bash, that most congressional leaders feel like going over the cliff, whether they will say it publicly is one thing, but going over the cliff might be better, because on the other end of it, you can vote for tax cuts versus raising taxes for a certain number of americans, politically speaking, isn't that a better scenario for them? >> it may politically be a better secenario for some congresspeople. but it will be a catastrophe because of public opinion, the way markets would respond on january 2nd. i think politically obviously it saves a little face, particularly for some republicans who don't want to vote for tax increases. taxes increase automatically, but it isn't without consequences and we're trying to get a sense today -- the meeting that you mentioned, 3:00 p.m. at the white house, congressional leaders with the president and vice president. coming out of that, i think we may ha
but that's cutting pretty close, as you can imagine, because we go over the fiscal cliff as of monday night without a deal. so pretty tight timeline there. >> what is the thinking at this point, dana bash, that most congressional leaders feel like going over the cliff, whether they will say it publicly is one thing, but going over the cliff might be better, because on the other end of it, you can vote for tax cuts versus raising taxes for a certain number of americans, politically...
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. >> the clock is ticking on the fiscal cliff. the deadline just four days away. the president has cut his vacation short and they will meet sunday for a rare session to negotiate a compromise. tracey mitchell joins us live. is there any progress to report? >> they are still talking, so i guess we can call that progress, but no breakthrough. the president meeting with congressional leaders hoping to work out a last-minute deal. just days before the deadline, the president is calling congressional leaders to the white house. >> i have to be very honest, mr. president, i don't know to my mind how it can happen now. >> each side is challenging the other to act first. >> republicans are not about to write a blank check for anything senate democrats put forward just because we find ourselves at the edge of the cliff. >> lawmakers in the house are heading back to washington for a rare sunday evening session to focus on the fiscal cliff. >> i would hope that we could come back here and reach a compromise, which has been so difficult to do. >> without a deal, taxpayers wo
. >> the clock is ticking on the fiscal cliff. the deadline just four days away. the president has cut his vacation short and they will meet sunday for a rare session to negotiate a compromise. tracey mitchell joins us live. is there any progress to report? >> they are still talking, so i guess we can call that progress, but no breakthrough. the president meeting with congressional leaders hoping to work out a last-minute deal. just days before the deadline, the president is calling...
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also dragging down sales was uncertainty about the fiscal cliff, tax hikes and spending cuts set to take effect next year. if lawmakers don't reach a deal to avoid it consumers could see higher taxes eating into their paychecks. even online sales suffered compared to past years of double-digit growth this year online holiday sales rose only about 8% compared to nearly 16% last year. lack of consumer confidence means this shopping season could be the weakest since the recession in 2008 when sales actually shrank. >> consumers need to have more confidence. right now it's more of an uncertain way for the first half of 2013 so i think everyone has thought going into the year. >> for businesses, the holiday shopping season officially ends december 31st, and retailers are hoping to salvage some profits by offering deep discounts until then. the president of the national retail federation is still optimistic. he estimates holiday sales growth will be about 3.5% to 4% this year. rebecca and jeff? >> thanks elaine. it's interesting, macy's and target report next week so we're going to hear from t
also dragging down sales was uncertainty about the fiscal cliff, tax hikes and spending cuts set to take effect next year. if lawmakers don't reach a deal to avoid it consumers could see higher taxes eating into their paychecks. even online sales suffered compared to past years of double-digit growth this year online holiday sales rose only about 8% compared to nearly 16% last year. lack of consumer confidence means this shopping season could be the weakest since the recession in 2008 when...
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cliff. >> getting a little more optimistic today. there's sometimes darkest before the dawn. >> right now we are at a stalemate because we haven't been willing to -- democrats haven't been willing to consider the issue of spend. >> there's some signs of possible flexibility but first of all, it would be helpful if the house of representatives came back. >> like it was a harvard law review just to show who is the smartest person in the room. we don't need the smartest person in the room. we immediate somebody to say all right, america, we need to deal with revenues. that's the bad news. we immediate to deal with the medicare fiscal cliff or you are not going on get your medical bills paid. >> remembering an american original. >> iraqis are dumb muff to attack her going to pay a terrible price. >> nicknamed stormin' norman for his ledgendary temper. he died thursday due to complications from pneumonia. >>> it is a year comes to a close, we look back at the amr moments that left us starstruck a
cliff. >> getting a little more optimistic today. there's sometimes darkest before the dawn. >> right now we are at a stalemate because we haven't been willing to -- democrats haven't been willing to consider the issue of spend. >> there's some signs of possible flexibility but first of all, it would be helpful if the house of representatives came back. >> like it was a harvard law review just to show who is the smartest person in the room. we don't need the smartest...
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where priority number one is avoiding the fiscal cliff. >> unless mr. obama and congress can reach a new deal by the new year, deep spending cuts will be taking effect. and while the president takes his flight back here to d.c., the first lady and their daughters are staying in hawaii. >> the first couple sat down with our very own barbara walters before their vacation. we pick up their conversation with talk about their family. >> i want to talk a bit about the girls. we've been watching them grow up from little girls to young ladies. malia recently got her first cell phone. do you monitor it and see who she calls or who she texts? >> i give my daughter, i give her a long rope, and there is monitoring, because we have rules. but monitoring may be, you never know when i'm going to walk in your room and i'm going to ask you who are you talking about and are you talking about school work? >> and they're not very good at lying. we joke sometimes about how malia is getting to the age now, boys start calling and sort of -- i always talk about how one of the
where priority number one is avoiding the fiscal cliff. >> unless mr. obama and congress can reach a new deal by the new year, deep spending cuts will be taking effect. and while the president takes his flight back here to d.c., the first lady and their daughters are staying in hawaii. >> the first couple sat down with our very own barbara walters before their vacation. we pick up their conversation with talk about their family. >> i want to talk a bit about the girls. we've...
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. >> we are dangerously close to the fiscal cliff. now, in all fairness, not all of it hits on new year's day but some of it does. the white house, we have a white house source who has said this. let me just read this to you. it says we believe very strongly a reasonable package can get majorities in both houses. the only thing that would prevent it is if senator mcconnell and speaker boehner don't cooperate. this is from the white house yesterday. do you believe that to be the case? >> no, i don't believe that to be the case. listen, a year ago august when the president was negotiating with the speaker, they were very close to the big deal that needs to be struck. and this isn't a one party or a one house problem. this is leaders of both parties and all branches of the government are not willing to make the deal that they know they have to make, and everybody wants their stuff but doesn't want to give up, you know, what they don't want to give up. >> you know, we're showing pictures right now of john boehner and president obama. john
. >> we are dangerously close to the fiscal cliff. now, in all fairness, not all of it hits on new year's day but some of it does. the white house, we have a white house source who has said this. let me just read this to you. it says we believe very strongly a reasonable package can get majorities in both houses. the only thing that would prevent it is if senator mcconnell and speaker boehner don't cooperate. this is from the white house yesterday. do you believe that to be the case?...
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trying to orchestrate a deal to avoid the fiscal cliff deadline just in the nick of time. if not, the consequences will be severe. more than a half trillion dollars in automatic tax hikes and spending cuts, not that lawmakers are necessarily feeling the urgency. congress is at least officially in session today but house members, most still at home haven't even been called back to the capitol. aides on both sides including republican leaders haven't spoken in days. >> washington remains in the same fiscal cliff clitalks. >> reporter: senator leader harry reid and john boehner are both frosty saying it's in the other guy's court saying to avert the largest tax hike in history and reid saying it's time for house republicans to put middle class families first. >> if we go past no deal, the markets are likely to decline in a significant way and involve most americans and they don't want to have themselves blamed for that. >> reporter: already stocks have dropped three days in a row over fiscal cliff fears. from wall street to main street, it is building. >> both parties to are
trying to orchestrate a deal to avoid the fiscal cliff deadline just in the nick of time. if not, the consequences will be severe. more than a half trillion dollars in automatic tax hikes and spending cuts, not that lawmakers are necessarily feeling the urgency. congress is at least officially in session today but house members, most still at home haven't even been called back to the capitol. aides on both sides including republican leaders haven't spoken in days. >> washington remains in...
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"hours from the fiscal cliff, washington awaits deal." experts foresee a significant drag on the economy. negotiators keeping the bush-era tax cuts in place for all but the wealthiest americans. this is having a huge impact on what the markets want, which is some certainty. good morning, andy. caller: i was a volunteer rescue worker at the world trade center. i have two cancers. these guys want to mess with social security. there was a guy on yesterday. he was willing to pay a little more. he will still have over $200,000 left. he'll have maybe $20,000 last. it is ridiculous. we of the strong people. we are the ones that survive. they call us the little people. we are the strong people. host: it is 7:35 eastern time. the house will gavel and at 9:00 p.m. eastern time. we will have live coverage. the senate is coming in at 11:00 a.m. more from the senate floor yesterday. [video clip] >> i'm sure if president does not want a climate like this happen. i do not want on my watch for this to be the last thing that happens on my watch. i do not
"hours from the fiscal cliff, washington awaits deal." experts foresee a significant drag on the economy. negotiators keeping the bush-era tax cuts in place for all but the wealthiest americans. this is having a huge impact on what the markets want, which is some certainty. good morning, andy. caller: i was a volunteer rescue worker at the world trade center. i have two cancers. these guys want to mess with social security. there was a guy on yesterday. he was willing to pay a little...
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we acted to put off the fiscal cliff several months ago with a bill that without objection tend all of those bush tax rates into the future and would turn off the sequester by switching defense cuts over to domestic programs. democrats, of course have no intention of doing that. especially after president obama won the election. senate democratic leadership aide tells me that will remains a 50/50 chance we will get a mini deal temporary extension of tax cuts under $250,000 before the january 1 deadline when we would go over the cliff. will are no assurances of that. a white house official told me as president obama prepares to fly back to conduct and participate in the negotiations at the end, there has been no progress over the holiday weekend. michelle, i'm afraid that people who are looking for a deal and looking for a deal by december 31, all hope is not lost. it is not looking good at the moment. >> let's go back to this hitting the debt ceiling on monday. we learned of this because treasury secretary tim good night mother sent a letter to the honorable harry reid majority leader.
we acted to put off the fiscal cliff several months ago with a bill that without objection tend all of those bush tax rates into the future and would turn off the sequester by switching defense cuts over to domestic programs. democrats, of course have no intention of doing that. especially after president obama won the election. senate democratic leadership aide tells me that will remains a 50/50 chance we will get a mini deal temporary extension of tax cuts under $250,000 before the january 1...
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cliff? >> first thing i would do is start going through the budget looking for places we can cut. >> every year the accountability office comes out with a report details hundreds of billions in waste, fraud and duplicated services. let's start cutting first. let's make the government do what american citizens have to do when things get bad. we have to tighten our belts. why doesn't the government have to do the same thing? that would be the first thing to do. i'm willing to bet we could get enough cuts in there that we could get us down to a balanced budget within a fairly short time. >>> judson phillips, great to have you on this morning, sir. thanks for your time. >> thomas, as always, thank you. >>>. mayor of marlboro new jersey coming uncriticism. the mayor will join mess next in studio. our big question -- should teachers be allowed to carry concealed weapons? [ male announcer ] this is sheldon, whose long dy setting up the news starts with arthritis pain and a choice. take tylenol or t
cliff? >> first thing i would do is start going through the budget looking for places we can cut. >> every year the accountability office comes out with a report details hundreds of billions in waste, fraud and duplicated services. let's start cutting first. let's make the government do what american citizens have to do when things get bad. we have to tighten our belts. why doesn't the government have to do the same thing? that would be the first thing to do. i'm willing to bet we...
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if the so-called fiscal cliff is a verted they will reimburse workers. they are advicing workers to watch their deductions. >>> not only could the new year bring higher taxes and spending cuts,y gross which bill could also skyrocket. the so-called dairy cliff. why milk prices could double. >>> and why lawmakers trying to work out a deal they are dealing a big snowstorm on the east coast. want to give you a live look at the snow falling in front of the united states capitol. you can see it's a little bit hazy. washington is expecting one to two -- one to three inches of snow rather. that is likely to mix with rain and farther north boston could see up to six inches of snow thisw. >> gay couples are now allowed to marry in the state of maine. this is video of the first couple to wednesday in portland maine. they couldn't wait to tie the knot. they exchanged views just after midnight. >> we finally feel equal and happy to live in maine. >> it's official now. after nine years it's all good. >> voters in maine approved in nova long with voters in washington s
if the so-called fiscal cliff is a verted they will reimburse workers. they are advicing workers to watch their deductions. >>> not only could the new year bring higher taxes and spending cuts,y gross which bill could also skyrocket. the so-called dairy cliff. why milk prices could double. >>> and why lawmakers trying to work out a deal they are dealing a big snowstorm on the east coast. want to give you a live look at the snow falling in front of the united states capitol....
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of the looming fiscal cliff deadline. it is now just five days away. is there any movement on either side? how many more times can we ask this question of abc chief white house correspondent, jonathan karl, joining us this morning. dare i ask, where we stand this morning? >> reporter: good news and bad news. the president's coming back to washington. the senate's coming back. they're ready to strike a deal. the bad news, josh, no progress whatsoever. and, in fact, the treasury department said that the government on monday will hit the limit of how much money we can borrow to run the government. they're going to do some extraordinary measures to keep us going until february. but things look grim. the one sliver of good news i can say on the substance is, the speaker's office tells me this morning there has been contact between the speaker of the house and the president, at least on the staff level. and they won't say whether or not the two men actually spoke. >> contact. hazahs all around. we heard a lot about taxes that w
of the looming fiscal cliff deadline. it is now just five days away. is there any movement on either side? how many more times can we ask this question of abc chief white house correspondent, jonathan karl, joining us this morning. dare i ask, where we stand this morning? >> reporter: good news and bad news. the president's coming back to washington. the senate's coming back. they're ready to strike a deal. the bad news, josh, no progress whatsoever. and, in fact, the treasury department...
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we are talking about the tax increases and spending cuts that make up the fiscal cliff. es it d to breathe, but with advair, i'm breathing better. so now i can be in the scene. advair is clinically proven to help significantly improve lung function. unlike most copd medications, advair contains both an anti-inflammatory and a long-acting bronchodilator working together to help improve your lung function all day. advair won't replace fast-acting inhalers for sudden symptoms and should not be used more than twice a day. people with copd taking advair may have a higher chance of pneumonia. advair may increase your risk of osteoporosis and some eye problems. tell your doctor if you have a heart condition or high blood pressure before taking advair. if you're still having difficulty breathing, ask your doctor if including advair could help improve your lung function. get your first full prescription free and save on refills at advaircopd.com. with less chronic osteoarthritis pain. imagine living your life with less chronic low back pain. imagine you, with less pain. cymbalta can help. cymbalta
we are talking about the tax increases and spending cuts that make up the fiscal cliff. es it d to breathe, but with advair, i'm breathing better. so now i can be in the scene. advair is clinically proven to help significantly improve lung function. unlike most copd medications, advair contains both an anti-inflammatory and a long-acting bronchodilator working together to help improve your lung function all day. advair won't replace fast-acting inhalers for sudden symptoms and should not be...